Vancouver, British Columbia--(Newsfile Corp. - July 23, 2026) - Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: JB50) ("Manhattan" or the "Company") is pleased to provide an update on ongoing technical work at its I-70 uranium project (the "I-70 Project" or "I-70"), located in the San Rafael uranium district of Utah. The Company has completed a major historical data compilation and digitization effort focused on building a modern drillhole and geological database for the I-70 Project.

The I-70 Project is located within the prolific Colorado Plateau uranium province and is permitted for underground mining. The Company believes this systematic compilation of historical data represents a critical step toward defining modern drill targets within a recognized uranium belt with established infrastructure.

Program Highlights

• Major Database Established: Manhattan has consolidated approximately 5,668 historical drill collar locations from legacy project maps into a modern validated drillhole database. The compilation includes 4,550 historical gamma-equivalent uranium intervals across 2,769 drill holes, while additional non-assay interval coding was generated for modeling purposes to support geological correlation, barren/mineralized zone interpretation, and drill targeting.

• Pervasive Uranium Mineralization Confirmed: Of 2,769 drill holes for which gamma data has been recovered to date, approximately 1,985 holes, or 72%, contain at least one historical gamma-equivalent interval of 0.10% eU₃O₈ or greater, demonstrating the widespread nature of uranium mineralization across the I-70 Project.

• High-Grade Intercepts Recovered: Numerous high-grade historical intercepts have been identified through this review, including GR-896-80 returning 1.22 m at 1.59% eU₃O₈ and FC-20-67 returning 2.13 m at 0.86% eU₃O₈, all of which were absent from all prior digital records.

• 3D Uranium Targets Generated: An initial lithology model for the Salt Wash Member of the Morrison Formation has been integrated with the drillhole database and digitized underground workings to generate preliminary 3D uranium target domains across the I-70 project area.

• Drill Program Planning Underway: Priority targets are now being defined for the upcoming field season, focused on areas where historical data indicates continuity of mineralized horizons and potential for unmined extensions within a recognized, infrastructure-rich uranium belt.

"The San Rafael area's uranium mining history spans more than seventy years, and this database work shows just how much of that endowment was never systematically followed up. At a time when the U.S. is racing to rebuild domestic uranium supply, having a district-scale, infrastructure-connected asset like I-70 positioned for near-term drill testing is exactly where we want to be," stated William Sheriff, Chairman of Manhattan.

"This compilation converts decades of legacy paper records into a targeting asset. A 72% mineralization hit rate across nearly 2,800 historical holes tells us I-70 was under-drilled by modern standards, and recovering intercepts like GR-896-80's 1.22 metres at 1.59% eU₃O₈ from records that predate digital exploration gives us a significant advantage in target definition moving forward," stated Galen McNamara, CEO and Director of Manhattan.

Overview

The Company has completed a major historical data compilation and digitization effort focused on building a modern drillhole and geological database for the I-70 Project. Work completed to date includes the consolidation, correction, and validation of historical drill collar, downhole survey, and gamma-equivalent uranium data from legacy project maps and records. The database now incorporates approximately 5,668 historical drill collar locations with corresponding downhole survey records. To date, the compilation includes 4,550 historical gamma-equivalent uranium intervals across 2,769 drill holes, with additional non-assay interval coding generated during database validation and 3D modeling to support geological correlation, barren/mineralized zone interpretation, and drill targeting.

Of the 2,769 drill holes for which gamma assay data has been recovered to date, approximately 1,985 — or 72% — contain at least one interval grading 0.10% eU₃O₈ or greater, demonstrating the widespread and pervasive nature of uranium mineralization across the I-70 Project. This hit rate is significant for a sandstone-hosted uranium district and underscores the mineral endowment of the I-70 Project area.

As part of this work, Manhattan has recovered and digitized numerous historical drill intercepts from legacy project maps that were not previously incorporated into the digital database. Several of these intercepts include elevated gamma uranium values that represent the best historical intersections at the I-70 Project.

Figure 1: I-70 Project drill holes and eU₃O₈ grade density

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/306184_5bce43e0c4de6bea_001full.jpg

Selected High-Priority Historical Intercepts

The table below presents 100 high-priority historical intercepts identified to date from the Company's ongoing review of the database, ranked by grade-thickness (GT). The table excludes holes flagged as mined out, holes flagged within 5 m of known underground workings, intervals beginning at 0 m, and exact 1 m or 2 m intervals to avoid including interpreted interval artifacts. GT, expressed in %·m, is a standard exploration metric used across uranium districts to rank the combined significance of grade and interval width. These intercepts are historical in nature, transcribed from legacy project maps and records, and are being used for exploration targeting and 3D modeling purposes only. They have not yet been independently verified by the Company.

* eU₃O₈ = equivalent U₃O₈ from historical downhole gamma (radiometric) logging, not chemical assays. Values assume secular equilibrium; disequilibrium, if present, may cause them to over- or under-state true uranium grades. Historical and unverified — for exploration reference only.
** GT (grade-thickness) = eU₃O₈ (%) × interval length (m). Used for comparative ranking purposes only.

Geology and Project Context

The I-70 Project is located in the San Rafael uranium district of Utah, one of the most historically significant uranium-producing areas in the United States. Uranium mineralization at the project is hosted within the Salt Wash Member of the Morrison Formation, a fluvial sandstone unit that served as the primary host for uranium production throughout the Colorado Plateau during the 1950s to 1980s mining cycle. The district has a well-established history of high-grade uranium production and is underlain by documented infrastructure including roads, power, and historical mine workings.

The Company's lithology model is being used to constrain uranium-bearing horizons and to support 3D interpretation of gamma-defined mineralized trends. Using the updated drillhole database, digitized underground workings, and interpreted lithology model, Manhattan has begun generating preliminary 3D uranium target domains designed to identify areas where historical gamma intercepts, favorable stratigraphy, and underground development suggest potential for additional uranium mineralization.

Technical Work Completed to Date

• Consolidated historical drillhole collar, survey, and assay/gamma records into a modern digital database.
• Compiled approximately 5,668 drill collar locations and matching downhole survey records.
• Recovered additional historical gamma intercepts from legacy project maps not previously captured in the digital database.
• Added missing survey records where required using vertical-hole assumptions for legacy holes lacking survey data.
• Reviewed and corrected interval gaps, overlaps, duplicate records, and missing-value codes.
• Digitized historical underground workings for integration into the 3D geological model.
• Built an initial lithology model focused on the Salt Wash Member of the Morrison Formation.
• Generated preliminary 3D uranium target domains to guide follow-up drilling.

Next Steps

• Continued validation and reconciliation of historical gamma data with underground workings and modern exploration results.
• Refinement of the lithology model and 3D uranium target domains.
• Definition of priority drill targets for the upcoming field season.
• Recovery of additional historical data recovery and expansion of database as the review of legacy records continues.

Technical Disclosure

The historical drillhole and gamma data referenced in this news release were compiled from legacy maps and historical records believed to be reliable. The Company has not yet completed sufficient work to independently verify these data and/or results. In addition, historical gamma values may not be directly comparable to modern chemical assay results and are being used by the Company for exploration targeting and modeling purposes only. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.

No current mineral resource or mineral reserve estimate has been established at the I-70 Project.

The uranium grades in this news release are expressed as equivalent U₃O₈ (eU₃O₈) and are derived from historical downhole gamma-probe (radiometric) measurements, not chemical assays. Equivalent grades are calculated from gamma response and assume secular equilibrium between uranium and its radioactive decay products. Uranium in sandstone-hosted systems such as the Salt Wash Member is mobile and may occur in radioactive disequilibrium, in which case eU₃O₈ values may materially overstate or understate true uranium grades. The gamma-probe equipment, calibration standards, and conversion parameters used by the historical operators are not fully documented, and the Company has not independently verified the original measurements or conversions. Reported intervals represent downhole lengths, not true thicknesses. These historical values are used for exploration targeting and 3D modeling only. The Company encourages readers to exercise appropriate caution when evaluating these data and/or results.

Certain scientific and technical information relating to I-70 Project contained in this news release is derived from or referenced in the Technical Report dated May 4, 2026 (with an effective date of May 4, 2026) titled "NI 43-101 Technical Report on the I-70 Uranium Property, Emery County, Utah, United States" (the "Technical Report") prepared by Paul D. Richardson, M.Sc., SME RM and Douglas H. Underhill, PhD, MBA, CPG. Such information is subject to all of the assumptions, qualifications and procedures set out in the Technical Report and reference should be made to the full text of the Technical Report, a copy of which has been filed with the applicable securities regulators and is available under the Company's profile on SEDAR+ (www.sedarplus.ca).

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Galen McNamara, P.Geo., CEO and a director of Manhattan, who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Mr. McNamara is not independent of Manhattan under NI 43-101.

About Manhattan Uranium Discovery Corp.

Manhattan Uranium Discovery Corp. (TSXV: MANU) (OTC Pink: MAUUF) (FSE: J5B0) is a newly consolidated North American uranium company committed to the discovery, development, and advancement of high-quality uranium assets. Following the successful acquisitions of Urano Energy and Pegasus Resources, Manhattan now holds a premier portfolio of 15 past-producing uranium mines across 25 underexplored properties covering 25,099 acres in the United States, complemented by high-grade exploration potential in Canada's Athabasca Basin. Backed by an elite technical and management team with decades of uranium discovery, project advancement, and capital markets experience, Manhattan is strategically positioned to capitalize on the growing demand for domestic uranium and the American nuclear renaissance. For more information about Manhattan, please visit: www.manhattanuranium.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian and United States securities legislation (collectively, "forward-looking statements"). All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "may", "will", "expect", "intend", "believe", "anticipate", "estimate", "target", "plan", "potential", "could" or similar terminology. Forward-looking statements in this release include, without limitation the results from work performed to date; the estimation of mineral resources; the realization of mineral resource estimates; the development, operational and economic results of technical reports on mineral properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of the Company's mineral properties and project portfolios, including but not limited to the proposed technical work referenced herein, including the timing, scope and execution thereof and remaining approvals; exploration expenditures, costs and timing of the development of new deposits; underground exploration potential; costs and timing of future exploration; the completion and timing of future development studies; estimates of metallurgical recovery rates; exploration prospects of mineral properties; requirements for additional capital; the future price of metals; government regulation of mining operations; current geopolitical developments, including but not limited to U.S. government policy, environmental risks; the timing and possible outcome of pending regulatory matters; the realization of the expected economics of mineral properties; future growth potential of mineral properties; and future plans, projections, objectives, estimates and forecasts and the timing related thereto.

Forward-looking statements are based on management's current beliefs, expectations and assumptions, including, without limitation: that historical information is reliable; that historical exploration data, including historical drilling results, downhole radiometric, sampling methodologies, geological interpretations and technical report conclusions, are sufficiently reliable to support exploration planning and targeting purposes; that the assumptions, interpretations and conclusions contained in the technical reports referenced herein remain valid and applicable; that future exploration activities will proceed as currently anticipated; that permits, equipment, personnel and contractors will be available on commercially reasonable terms; and that current commodity prices, labour availability, cost and regulatory frameworks will remain consistent with management's expectations. Although management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation: the risk that historical data may prove to be inaccurate or unverifiable; that historical exploration results, including historical drilling results and radiometric information, may not be confirmed by future exploration activities, including drilling, sampling or verification programs; that historical exploration results may not support further work or drilling; that geological interpretations, models and assumptions regarding the continuity extent, grade and economic significance of mineralization may prove to be incorrect; that historical mineralized intervals, radiometric results, exploration targets, conceptual exploration potential or historical interpretations will ultimately result in the delineation of mineral resources or demonstrate economic viability; that assumptions, interpretations and conclusions contained in technical reports referenced herein may change as additional information becomes available; that exploration activities may be delayed, restricted or not carried out as planned; that permits may be delayed or revoked; the absence of adverse conditions at mineral properties; the price of uranium and other metals remaining at levels that render mineral properties economic; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on any mineral resource and reserve estimates; the Company's ability to complete its planned exploration programs; environmental regulations or hazards and compliance with complex regulations associated with mining activities; climate change and climate change regulations; fluctuations in exchange rates; the business objectives of the Company; whether economic mineralization can be defined and, if it can be permitted for development; the uncertainty that any mineralization encountered on adjacent properties continues on to any of the Company's properties; the uncertainty that geological and/or geophysical and/or any trends, interpretations, or conclusions related to adjacent properties have relevance to any of the Company's properties; the uncertainty that the exploration season can be extended; changes in project parameters as plans to continue to be refined; the consequences and implications of the historical mining activities on the environment and whether such affects the potential exploration and/or development of any mining operation the Company's properties; the implications of claims from First Nations, Tribes, Tribal Councils or Tribal Governments and land claims settlements on the Company's projects; accidents, labour disputes and other risks of the mining industry, conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; future prices of metals; possible variations of mineral grade or recovery rates; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; title to properties; operational, technical and geological risks inherent in mineral exploration; changes in capital markets, economic conditions, regulatory developments and stakeholder relations; the other risks set out in the Company's public disclosure record under its profile on SEDAR+ (www.sedarplus.ca) and management's ability to anticipate and manage the foregoing risks and uncertainties.

The Company provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, other than as required by law.

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